Flipkart revamps fashion business to strengthen its lead
Flipkart revamps fashion business to strengthen its lead
BENGALURU: Fashion is the next battleground for e-commerce majors Flipkart and Amazon as they fight for supremacy of the Indian online retail market. After four years in its current avatar, Flipkart Fashion is being revamped to expand its user base beyond the current mass segment.
The home grown e-tailer is reintroducing its fashion business as it partners with over 100 stylists who will curate fashion trends and accordingly push products on its platform.
Much like traditional brand retailers, it is in talks with movie production houses to bring their collection starting next year. The Flipkart-owned Myntra ope rates in a similar market category targeting the mass premium shoppers with offerings based on latest trends and themes.
The new positioning for Flipkart Fashion would mean that the company is trying to tap into a new set of consumers who are ready to spend more. It would also help Flipkart reduce its dependency on Myntra, which it acquired in 2014, to drive the major chunk of high-value fashion sales.
"We are starting a 360-degree campaign for Flipkart Fashion which goes beyond talking about our brand stores and looking to expand user base. This will take Flipkart Fashion market share further ahead by at least 5% next year and boost overall sales," Rishi Vasudev, head of Flipkart Fashion, said.
Jeff Bezos-led e-commerce giant Amazon, too, has been betting big on exclusive partnerships to grow its fashion business. It has already introduced two private labels -Symbol and Myx -while Flipkart is expected to launch its private brands by the middle of next year.
"We grew about 2.3 times this year and almost 30% new customers for Amazon.in come from Amazon Fashion. Several brands have launched exclusively with us and we are looking at more such partnerships," said Arun Sirdeshmukh, director (fashion), Amazon India.
The home grown e-tailer is reintroducing its fashion business as it partners with over 100 stylists who will curate fashion trends and accordingly push products on its platform.
Much like traditional brand retailers, it is in talks with movie production houses to bring their collection starting next year. The Flipkart-owned Myntra ope rates in a similar market category targeting the mass premium shoppers with offerings based on latest trends and themes.
The new positioning for Flipkart Fashion would mean that the company is trying to tap into a new set of consumers who are ready to spend more. It would also help Flipkart reduce its dependency on Myntra, which it acquired in 2014, to drive the major chunk of high-value fashion sales.
"We are starting a 360-degree campaign for Flipkart Fashion which goes beyond talking about our brand stores and looking to expand user base. This will take Flipkart Fashion market share further ahead by at least 5% next year and boost overall sales," Rishi Vasudev, head of Flipkart Fashion, said.
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Jeff Bezos-led e-commerce giant Amazon, too, has been betting big on exclusive partnerships to grow its fashion business. It has already introduced two private labels -Symbol and Myx -while Flipkart is expected to launch its private brands by the middle of next year.
"We grew about 2.3 times this year and almost 30% new customers for Amazon.in come from Amazon Fashion. Several brands have launched exclusively with us and we are looking at more such partnerships," said Arun Sirdeshmukh, director (fashion), Amazon India.
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